EUR/USD: (1.3775) Drop from 1.3840 retested broken channel top

KBC Market Research Desk from KBC Bank at 02/17/10

Drop from 1.3840 retested broken channel top off 1.4580 (see graph) and currently back in the daily channel off 1.5142 (bottom at 1.3650 today),: Support area at 1.3735/ .3730 (broken daily Medium Term Moving Average↓/ break-up hourly), with next levels at 1.3693/ .3674 (daily Short Term Moving Average↑/ daily envelope bottom), ahead of 1.3635 (break-up daily), where pause favored.
If wrong, next levels at 1.3578 (current week low), ahead of 1.3532 (current reaction low off 1.5145) and 1.3512/ .3504 (daily Bollinger bottom/ monthly envelope bottom): tough on 1st attempts.
Resistance at 1.3802/ .3813 (reaction highs hourly), with next levels at 1.3826 (daily envelope top), ahead of 1.3840/ .3851 (last week high + see graph/ previous reaction low), where pause favored.
If wrong, next levels at 1.3856 (daily Bollinger midline), ahead of 1.3912/ .3932 (23.6% 1.5145 to 1.3532/ 38.2% 1.4580 to 1.3532): tough on 1st attempts.

USD/JPY: (90.33) Above Downtrendline off 93.78

EUR/GBP: (.8732) Failed to extend above .8796 and below Flag off .8603

EUR/JPY: (124.36) Trying to extend above 124.28